“At the end of the first quarter, we had $674 million remaining under our current share repurchase program, which we expect to complete by the end of the year.”

In context

“ts and capabilities in the NJOY acquisition that can be applied toward a future e-vapor pipeline that meets consumer preferences over the long term. Turning to ABI's financial results. We recorded $146 million of adjusted equity earnings, down 11.5% versus the prior year. This decline was driven by a lower ownership interest compared to the year-ago period, reflecting the sale of a portion of our ABI investment. We continue to view our ABI stake as a financial investment, and our goal remains to maximize the long-term value of the investment for our shareholders. We remain committed to returning significant value to shareholders and maintaining a strong balance sheet. In the first quarter, we paid approximately $1.7 billion in dividends and repurchased 5.7 million shares for $326 million. At the end of the first quarter, we had $674 million remaining under our current share repurchase program, which we expect to complete by the end of the year. In addition, our balance sheet remains strong. Our total debt to EBITDA ratio as of March 31 was 2.1 times, in line with our target of approximately two times. Let's move now to guidance. Where we expect to deliver 2025 full-year adjusted diluted EPS in a range of $5.30 to $5.45, representing a growth rate of 2% to 5% from a base of $5.19 in 2024. As noted in today's press release, beginning in the first quarter, we changed our treatment of our amortization expense associated with definite-lived intangible assets and now exclude it from our adjusted results. We believe that operating results adjusted for this item better reflect the underlying performance of our businesses and provide a better comparison to prior operating results. As a result, our guidance reflects a recast of the guidan”